20111118

Wonder about the Constitutionality...

Today, Sen. Kristin Gillibrand (D-NY) took it one step further with a bill that will not only ban insider trading for congressional members but will “empower the Securities and Exchange Commission to prosecute lawmakers for insider-trading cases as well as make insider trading against the rules of the House and the Senate.”

I certainly find it suspicious that Congressmen consistently get above-market returns on their investments, and insider trading is the only way I can explain it. So I'd love to see this pass, though I suspect that as soon as anyone is arrested on this, that they'll claim a violation of the Constitution (Art I, Sec 6, clause 1).